SK Hynix’s Solidigm explores IPO that could value unit up to $150 billion

Chipmaker SK Hynix's Solidigm is exploring a monumental initial public offering potentially worth $150 billion, aiming to secure approximately $15 billion. Currently in the early phases of planning, Solidigm specializes in NAND flash memory and solid-state drives, vital for AI technologies. This IPO has the potential to become one of the largest in semiconductor history in the U.S., alongside considerations for a new manufacturing facility in upstate New York.

NEW YORK — Chipmaker SK Hynix's Solidigm is considering an initial public offering as early as next year that could value the U.S. subsidiary at up to $150 billion, according to three people familiar with the matter. Solidigm held pitch meetings this week with investment banks competing for roles on the IPO, in a process known as a "bake-off," one of the people and a fourth person said, marking a concrete step toward what could become the largest-ever U.S. semiconductor listing. The company could raise $15 billion in the IPO, the three people said, speaking on condition of anonymity to discuss confidential matters. The plans, including the size of deal and timing, remain at an early stage and could change depending on market conditions, they added. The listing would rank as one of the largest semiconductor IPOs on record and could provide a standalone valuation for a business that has become a key part of SK Hynix's storage portfolio. It would also seek to tap strong investor demand for companies tied to artificial intelligence infrastructure, which has fuelled gains in semiconductor